(Credit: George Iordanov-Nalbantov)

The bank aims to cut costs and digitise its operations, leading to changes affecting over 1,000 roles.

The restructuring includes the closure of a large office in Dunfermline, impacting around 1,500 staff who will be offered the chance to work remotely or relocate to Edinburgh.

Job cuts will primarily target middle management positions in customer relations, operations, digital experience, and marketing. A small number of roles in the sustainability and commercial banking arms will also be eliminated.

Trade union Accord, representing thousands of Lloyds employees, confirmed that around 1,300 roles are under review within the consumer relationships division alone. While the exact number of redundancies is yet to be finalised, Accord is working to minimise compulsory job losses and ensure departing staff receive appropriate redundancy packages.

A spokesperson for Lloyds told The Scotsman: “To achieve the ambitious strategy we launched in February 2022 and deliver a better service to our customers, we are transforming our business.

“To do this and move forward faster, we hired 10,000 experts last year to drive our transformation and we will continue to look at all options to ensure we are well placed to deliver for our customers.

“Making changes means not only creating new roles and upskilling colleagues in some parts of the business but also having to say goodbye to talented people who have been a part of the group’s success in the past.

“Where that is unfortunately the case, we will do everything we can to support them with the changes recently announced.”